Oman:Oman Cement sees 40% net profit drop in H1

Oman Cement has recorded a 40% drop in its net profit in the January to June 2015 period from OMR 9.09million (€21.23million US$23.62million) in the same period in 2014, to OMR 5.44million.

The cement producer has registered a 7.7% decline in its total revenue in the six months under review to OMR 27.33million. It has posted a marginal decrease in its sales revenue in the period under review from OMR 25.68million in the same period in 2014, to OMR 25.53million.

Investment and other income dropped by 54.1% in the January to June 2015 period from OMR 3.94million previously, to OMR 1.80million. Its total expenses increased by 8.2% in the six months under review from OMR 19.70million in the same period in 2014, to OMR 21.30million.